Direxion Daily S&P 500 High Beta Bear 3X ETF
$16.73+0.42 (+2.58%)
- Expense ratio
- 1.11%
- Fund size
- $22M
- 1Y return
- −72.8%
- Yield · Last 12 months
- 12.11%
- Holdings
- 8
- Volume · 30D
- 0.2M sh
- NAV per share
- $19.52
- 52W range
The ETF.net HIBS Grade
Score 24 of 100 sits in the F band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.FScore 24Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.Not scoredRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.DScore 25Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.DScore 25Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.Not scoredDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.FScore 23Category rank
Our read on HIBS
FMost bear funds short the whole index. HIBS aims at -300% of the daily move of the S&P 500's 100 jumpiest stocks, so it's a leveraged short pointed at the market's high-beta end. A one-day tool, reset every close.
The fund seeks daily investment results equal to -300% of the daily performance of the S&P 500® High Beta Index, before fees and expenses. Its objective applies for a single day and is not intended to provide the same multiple over longer periods.
Why people hold it
- Sharper instrument than a plain index short: the benchmark holds the 100 S&P 500 names most sensitive to market swings, weighted by beta and refreshed on a quarterly schedule.spglobal.com
- The mandate leaves no wiggle room: -300% of the index's one-day move, before fees, spelled out in the fund's own documents.direxion.com
- Fees sit a shade under the typical leveraged bear fund: 1.11% versus a 1.21% cohort median.
- Live since 2019, with a mirror-image bull fund (HIBL) on the same index for traders who flip sides.direxion.com
Worth knowing
- Leverage resets daily, so returns compound. Hold beyond one session and the path of the index matters, not just where it ends up.
- Two risk layers stack here: the twitchiest slice of the S&P 500 and triple inverse exposure, putting it among the more volatile designs in the leveraged bear group.
- It's a niche corner of the shelf, trading less heavily than the broad index-short workhorses, so spreads and order size carry more weight.
HIBS Holdings
- Other
- 8
- 153%
- SP5HBI SWAP ASSET LEG (SP5HBICTS)
HIBS Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | HIBS |
|---|---|
| Year to date | −66.6% |
| 1 month | −11.2% |
| 3 months | −3.8% |
| 1 year | −72.8% |
| 3 years | −66.3% |
| 5 years | −56.3% |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | HIBS |
|---|---|---|
| 2026 YTD | −66.6% | |
| 2025 | −72.4% | |
| 2024 | −27.5% | |
| 2023 | −64.5% | |
| 2022 | −7.6% | |
| 2021 | −75.3% | |
| 2020 | −91.6% |
HIBS in the news
ETF.net Research hasn’t filed on HIBS yet — coverage lands here as it’s written.
HIBS Dividends
- 12.11%
- $1.98
- $0.22 per share
- Quarterly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 22, 2026 | Pays Sep 29, 2026 | $0.22 |
| Jun 23, 2026 | Jun 30, 2026 | $0.15 |
| Mar 24, 2026 | Mar 31, 2026 | $0.42 |
| Dec 23, 2025 | Dec 31, 2025 | $0.51 |
| Sep 23, 2025 | Sep 30, 2025 | $0.68 |
| Jun 24, 2025 | Jul 1, 2025 | $0.76 |
| Mar 25, 2025 | Apr 1, 2025 | $2.30 |
| Dec 23, 2024 | Dec 31, 2024 | $1.46 |
| Sep 24, 2024 | Oct 1, 2024 | Data unavailable |
| Jun 25, 2024 | Jul 2, 2024 | $3.19 |
| Mar 19, 2024 | Mar 26, 2024 | $3.02 |
| Dec 21, 2023 | Dec 29, 2023 | Data unavailable |
HIBS Risk
This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.
- 66.0%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −1.12
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −98.7%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- −3.91
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
HIBS Cost
- The middle half of 3x Leveraged Inverse funds
- Median 1.05%
10 of the 14 3x Leveraged Inverse funds charge less.